If you’ve been thinking about moving to Portugal, you’ve probably heard about the Portugal Golden Visa program. Maybe you’ve read that it’s easy: buy a flat, show you’ve got a few quid stashed in a Portuguese bank account, and suddenly you’re on the fast track to Portuguese residency.
But the thing is, things have changed a lot lately. As of 2025, the Golden Visa in Portugal has officially moved on from its real estate era – direct property investments and simple capital transfers are no longer routes to a residence permit.
The government, in a move to cool off the property market and encourage more active forms of investment, now only accepts applications that bring money into the economy through other channels.
Instead, your choices for a qualifying investment are now about putting capital into:
According to Portugal’s official immigration portal, SEF, the latest options are set up to make the visa about boosting the country’s long-term growth, not just about owning a holiday home, so let’s get into the details:
So, if you can’t buy your way in with a flat on the Algarve anymore, what exactly can you do? The big headline is that investment funds – like venture capital funds and private equity funds – are now the most popular and accessible route.
You’ll need to make a fund investment of at least €500,000 into a fund that is regulated by the Portuguese authorities and invested in Portuguese-based businesses. This isn’t just about putting your money in and forgetting about it; you need to make sure your chosen fund meets the requirements and is eligible for the Golden Visa Portugal scheme.
Besides funds, you can go down the scientific research path. For this, you’re looking at a minimum investment of €500,000 in research projects that are recognised by a public or private scientific institution in Portugal.
The same minimum applies for cultural investment – this could mean supporting a museum restoration, an arts foundation, or any project with official government backing.
If you’re more business-minded and interested in actually creating jobs, you’re also able to set up or invest in a Portuguese company. That said, there’s a caveat that the business must create at least ten new jobs for Portuguese citizens. This option can be a bit more hands-on, but it’s definitely a good mix of investment and lifestyle change.
For a detailed breakdown on these investment options and their legal requirements, the Portuguese Immigration and Borders Service is the best official source to check, as the numbers and criteria sometimes get tweaked.
And it’s important to note that these routes aren’t interchangeable with the old system. If you’ve been eyeing up property, you’ll have to look elsewhere – or pivot your strategy.
Once you know which type of investment you want to make, the process is actually pretty simple. But it isn’t exactly quick or entirely straightforward. Here’s how things usually go for Golden Visa applicants from the UK:
For each step, it’s wise to double-check requirements with official sources. The European Migration Network has current reports on how Portugal is running its Golden Visa scheme and processing times as of late 2025.
A lot of people wonder if the Golden Visa is still worth the hassle, especially now you can’t just buy property and forget about it like you used to. In reality, the key benefits here definitely still exist – especially for UK expats who want a base in the EU or flexibility to live and work in Europe.
For a sense of how many people have benefitted from the scheme, more than 12,000 Golden Visas have been issued since the program’s inception. That’s not even considering the dependent family members that came with them.
Beyond the obvious – passport and proof of qualifying investment – you’ll be expected to show:
You’ll also be expected to spend at least seven days a year in Portugal, so you don’t need to relocate full-time, but some presence is required. And for each renewal, you’ll have to provide updated documents and pay some renewal fees.
For a step-by-step checklist, the Portuguese government’s official immigration page is a good place to start!
As always, being able to present your international financial history and prove your financial background helps smooth the whole Portugal Golden Visa process, which is where Upscore’s Finance Passport can help you!
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